“UkrGasBank” in mass media: Sergey Naumenko only for “Facts” edition
Interest rates of Ukrainian banks not only give an opportunity to protect deposits from inflation but also receive quite good income
However, if you choose financial institution, you should pay attention to its reliability.
Lately banks become usual and comfortable tool for Ukrainian people. Millions of people don’t keep money at home any more, they trust its saving to banks really able to keep and double means. The main thing is to choose a proper bank and place money on the most profitable deposit. How not to fail placing spare cash? We asked Deputy Chairman of the Board of ‘UkrGasBabk’, Sergey Naumenko for suggestions for potential depositors.
“There are nine types of deposits provided for our population in “UkrGasBank””.
- The main question, which is naturally arises for every owner of savings: to bring or not to bring money in bank. Is it so necessary to tear them from itself?
- Possibly it sounds a little bit trivial, but, if person doesn’t want devaluation of its money as a result of inflationary processes, he/she should think how to protect them, in other words, to save their purchasing power. It is possible if a sum of money is not kept in "stoking", but works providing owner with a profit.
Not an every person is able to deposit on its own. Therefore banking institutions all around the world help people to save and multiply its savings profitably and without risk. So that every person could find more proper method for savings and application of funds wide spectrum of bank services exists.
- What kind of bank services is the most popular in Ukraine?
- Currently considerable amount of our population prefers to use bank deposits. According to NBU data, by the 1st of May 2006 total amount of deposits of individuals in Ukrainian banks comprises UAH 80,145 bn.
Interest rates offered by domestic financial and credit institutes (12-15% p. a. of deposits in UAH depending on deposit conditions), not only protect depositors’ money from inflation, but also provide considerable income. At that, the service is able to satisfy any Ukrainian financial taste.
Only “UkrGasBank” offers nine types of deposits.
"During unstable political and economic situations people prefer to convert money to bank metals"
- It is any method of save keeping for money except deposits?
- Good investment of money is acquisition of bank metals – gold, silver, platinum and palladium. These precious metals are disposed to rise in price when usual currency goes down in price. That is why at the time of unstable political and economic situations people often prefer to convert money to bank metals.
- Lately banks pay special attention to crediting development of population. What does it relate to?
- This service is rather convenient for people and much in demand. It is not a secret that the majority of people in market-economy market live on credit. Logic is simple: it’s impossible to conserve human life for better time in future. Separate comfortable dwelling, car and other subjects of life are in need today and not in 20 or 30 years of tenacious savings. And how guarantee that you will manage to build necessary sum to buy a flat? After all prices grow. A few years ago one could but one-room flat for USD 6-8 thousand. Today for such a dwelling one must pay USD 40-50 thousand.
It turns out that a person who took a loan than has already paid it out. And taking into account all interests it costs two times cheaper than it cost now. And during all these years he/she lives in his/her own apartment. But that who decided than collect some more money, may be, even now must thrift trying to catch rapidly growing prices.
It turns out that real estate acquisition or consumers durable on credit are profitable. And Ukrainians understand it. Only during last four months volume of credits granted by Ukrainian credit institutions for individuals increased by 25%. And it is not a limit.
- Ukrainian banking system comprises 166 banks: large and small, universal and specialized, all-Ukrainian and regional. How choose the best one that will provide safety of funds and profitability of financial operations?
- The best evidence is reliability of bank. About it testifies a range of factors, comprehensible and available for wide circle of people. First of all, financial indicators evidence about bank’s reliability as well as carrying-out of all NBU standards. Bank is the only commercial organization which activity is under control every day. Consequently, if supervisory bodies have no claims it means you can cooperate with the bank.
Then you should pay attention to financial results made by international auditors. For example, "UkrGasBank" conducts already such audit during 7 years and receives positive assessments.
One of decisive role belongs to quantity of branches and outlets of banking institution. The bigger branch network is, the more guarantees have client. The other indicator of bank stability is a range of its products. The larger range of services offered by bank, the reliable it is.
Another important factor is bank participation in the Guarantee Fund for Deposits of individuals. In case if deposits in participant bank are unattainable every client receive compensation up to certain amount (currently maximum amount totals UAH 8 thousand). Bank list – participants of the Guarantee Fund for Deposits of individuals – you can see at the site of the Fund in Internet.
Igor Antonenko
26.05.2006